USDC Issuers Circle Eyes Major Push in the Hong Kong Market
While the US intensifies the regulatory crackdown, the Asian market remains a huge area of focus for crypto firms. Speaking at the World Economic Forum in Tianjin, China, on Tuesday, June 27, Jeremy Allaire told Bloomberg: advertisement “ Hong Kong clearly is looking to establish itself as a very significant center for digital assets markets and for stablecoins and we are paying very close attention to that”. In its pursuit of expansion in the Asian markets, Circle recently secured a license as a major payments institution in Singapore. Thus, it will now be able to offer digital payment token services for domestic as well as cross-border money transfer services. Starting June 1, Hong Kong implemented new rules for regulating cryptocurrencies. This comes at a time when digital asset companies worldwide are looking for secure and appropriate destinations for investors and users due to increased restrictions in the US. However, Hong Kong has not yet i...